Common use of Control Status Clause in Contracts

Control Status. The Collateral Custodian is not an Affiliate of either the Issuing Entity, the Grantor Trust, the Administrator or the initial Servicer, and covenants and agrees that prior to any such affiliation in the future, the Collateral Custodian shall promptly notify the Indenture Trustee for further distribution to the Noteholders.

Control Status. The Collateral Custodian is not an Affiliate of either the Issuing Entity, the Grantor Trust, the Administrator Borrower or the initial Servicer, and covenants and agrees with the Administrative Agent that prior to any such affiliation in the future, the Collateral Custodian shall promptly notify the Indenture Trustee for further distribution to the NoteholdersAdministrative Agent.

Control Status. The Collateral Custodian is not an Affiliate of either the Issuing Entity, [the Grantor Trust, ,] the Administrator or the initial Servicer, and covenants and agrees that prior to any such affiliation in the future, the Collateral Custodian shall promptly notify the Indenture Trustee for further distribution to the Noteholders.